Press Release 21/12/2018

INDUSTRIAL PRICE INDEX, NOVEMBER 2018

Industrial prices in the Basque Country decreased by 0.1% in November 2018 compared to the previous month

They were 3.2% up on the previous year (November 2018 on November 2017)

Industrial prices in the Basque Country decreased by 0.1% in November 2018 compared to the previous month, according to EUSTAT data. With these data, the year-on-year rate for November, which indicates the fluctuation in industrial prices over the last twelve months, showed growth to be 3.2%.

A more detailed sector-level analysis reveals that in November 2018, the most inflationary branches on the previous month were: Electricity, Gas, Steam & Air Conditioning, which was up 3.7%, Textile, Leather & Footwear, which saw an increase of 1.9% and Chemical Industry, with a rise of 1.6%.

On the other hand, the following sectors experienced the largest decreases in prices: Coke Plants & Oil Refining with 4.9%, Extraction Industries with 1.0% and Timber, Paper & Graphic Artswith 0.6%.

According to the classification of goods by economic destination, and in relation to the previous month, Energy prices were down 1.0%; prices of Intermediate Goods prices fell by 0.2%; whereas prices of Capital Goods were up 0.1% and those of Consumer Goods, as a whole, also increased by 0.1%, as a consequence of the rise in prices of Consumer Non-durables, up 0.1%, whilst those of Consumer Durables remained unchanged (0.0%).

In the year-on-year period, November 2018 on November 2017, the greatest increases in prices occurred within the branches of: Coke Plants & Oil Refining with 11.2%, Electricity, Gas, Steam & Air Conditioning and Chemical Industry, which increased by 4.2%, in both cases. By contrast, there were decreases or lower rises in prices corresponding to the Furniture and Other Manufacturing Industries; Repairs and Installation sector, down by 0.9%, Computer, Electronic & Optical Products, with an increase of 0.4% and Food, Beverages & Tobacco, up 0.6%.

The price variation of the large goods groups was positive over the year-on-year period in all cases. Energy increased by 8.7%, Intermediate Goods rose by 3.1% and prices corresponding to Capital Goods were up 1.2%. The prices of Consumer Goods increased by 0.7%, and among the latter, the prices of Consumer Non-Durables were up by 0.8%, whilst the prices of Consumer Durables rose by 0.7%.